| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 73rd | Fair |
| Demographics | 35th | Fair |
| Amenities | 31st | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 24200 Pine St, Newhall, CA, 91321, US |
| Region / Metro | Newhall |
| Year of Construction | 1986 |
| Units | 39 |
| Transaction Date | 2013-08-07 |
| Transaction Price | $5,930,059 |
| Buyer | 24200 PINE STREET INVESTOR LLC |
| Seller | CLARITA TERRACE APARTMENTS LLC |
24200 Pine St Newhall CA Multifamily Investment
Neighborhood occupancy is top-ranked among 1,441 Los Angeles metro neighborhoods, indicating durable renter demand and tight leasing conditions, according to WDSuite’s CRE market data.
Located in Newhall, 24200 Pine St sits within an Urban Core neighborhood where leasing conditions are notably tight and renter demand is established. The neighborhood’s renter-occupied share is elevated (64.6% of units are renter-occupied), signaling a deep tenant base and supporting multifamily absorption and retention. Compared with the Los Angeles metro’s 1,441 neighborhoods, the area’s occupancy ranks first, underscoring stability for income streams in a competitive market.
The property’s 1986 vintage is newer than the neighborhood’s average construction year (1963), which can provide a competitive edge versus older stock while still leaving room for targeted modernization and capital planning (e.g., systems updates or interior refresh) to support rent positioning.
Everyday conveniences are accessible: grocery access is strong (top quartile nationally), and dining density is also top quartile, though cafes and parks are comparatively limited. Average school ratings trend slightly above the national median, which can aid family retention and length of stay. Median home values sit in a high-cost ownership range (top decile nationally), which tends to reinforce reliance on multifamily rentals and can support lease stability.
Demographic indicators aggregated within a 3-mile radius show modest recent population growth and a stable household count, with forward-looking projections pointing to smaller average household sizes and an increase in total households. This combination typically expands the pool of prospective renters and supports occupancy over time, even as population levels fluctuate. Rent levels in the 3-mile area have risen historically and are projected to grow further, so operators should balance pricing power with lease management to mitigate affordability pressure.
Safety metrics for the neighborhood track close to the national middle, and trends are improving. Year over year, both property and violent offense estimates declined, which supports a steadier operating environment for multifamily. Within the Los Angeles metro context, the area performs around the metro median range among 1,441 neighborhoods, while national percentiles indicate modestly better-than-average conditions.
Proximity to diversified employers supports workforce housing demand and commuting convenience, notably in pharmaceuticals distribution, medical devices, life sciences, insurance, and telecommunications.
- AmerisourceBergen — pharmaceuticals distribution (4.9 miles)
- Boston Scientific Neuromodulation — medical devices (6.3 miles)
- Thermo Fisher Scientific — life sciences (12.3 miles)
- Farmers Insurance Exchange — insurance (14.0 miles) — HQ
- Charter Communications — telecommunications (16.1 miles)
24200 Pine St offers a 39-unit footprint in a neighborhood with top-ranked occupancy performance and a high renter-occupied share, pointing to depth of demand and income stability. The 1986 construction is newer than the local average, positioning the asset to compete effectively with older inventory while allowing for targeted value-add to enhance rents and retention. High-cost home values in the area sustain reliance on rental housing, and recent plus projected household trends (3-mile radius) suggest a larger pool of smaller households that can support steady leasing.
According to CRE market data from WDSuite, neighborhood-level income potential is competitive and occupancy is exceptionally tight versus metro peers. Forward projections indicate continued rent growth in the surrounding 3-mile area, so prudent revenue management and selective upgrades can capture pricing without overextending affordability. Key risks include potential softening in broader population counts and amenity gaps (notably limited parks/cafes), which underscore the importance of asset-level improvements and tenant experience to sustain leasing velocity.
- Tight, top-ranked neighborhood occupancy supports income stability and lower downtime risk.
- 1986 vintage offers competitive positioning versus older stock with clear value-add levers.
- High-cost ownership market reinforces renter reliance and helps sustain pricing power.
- Monitor risks: population softening in forecasts and limited parks/cafes may require stronger tenant experience to maintain velocity.